Master of Business Administration (MBA) is considered to be one of the best investments for professionals looking to take their careers forward. It provides a comprehensive understanding of management fundamentals and gives students an edge over other candidates in the job market.

MBA was born to prepare people for different roles in the business world after the industrial revolution. Different fields such as Accounting, Operations, Human Resources, and Marketing emerged and a need to collectively teach students these fields was felt. As far as we know, the course Master of Business Administration first started in the USA, which remains the largest market for MBA jobs even today.

Slowly, it became popular in the UK and other EU (European Union) countries. While some offer Post Graduate Diploma in Management or PGDM as a diploma program, many universities offer Master of Business Administration (MBA) degree programs to prepare management professiopnals for the future.

MBA is definitely a preferred degree for senior-level management roles for big, global companies.

Will MBA always remain the preferred degree?

Not sure. Degrees have emerged with time and gone out of fashion with time. World Wars created awareness about R&D in Basic Sciences. The increasing global and complex nature of business caused a need for people management and collective business education. Economics got divided into microeconomics and macroeconomics.

It is probable that in future some new forms of education/degree may emerge or maybe an extension or variation from current education subjects/styles. But in the near future, we believe MBA is going to be a strong degree to have for solid career growth.

We, at SMS Varanasi, regularly update our curriculum to make sure that the course remains relevant to the changing demands of the industry. We also provide placement assistance for our students, helping them get jobs in some of the biggest companies in India and abroad.

What value is added by MBA?

Relevance in the Fast-Changing World

With the dawn of the internet, doing business has become simpler and faster. Companies often expand past their home country. These global companies need people with a global mindset who can work in a diverse culture.

A business school is a good place to learn about international business and management practices. SMS has ties with some of the best universities around the world where students can get international experience.

Business Education

There is no better place to get a balanced business education than a MBA course at SMS Varanasi. Some argue that they can take online courses or read books to gain MBA-level knowledge. While this is possible but in practice, it does not stand true.

Business schools are places where you meet experts, and many knowledgeable people work hard to prepare intense and relevant content for you. Their experience in collecting, summarising and developing the content from massive data and books is outstanding.

Often, these professors are leading researchers in their fields of study, and are a few steps ahead of what has been published in books or online articles. Learning from them is a better option than searching for business education materials from the mountain of books and online tutorials.

What You Learn in Class

You are sure to be surprised to see the breadth and depth of knowledge of your MBA class. Diverse class is often a goal of the MBA admissions team as well. Learning from friends is fun, easy to understand and everlasting.

In the class, there is often a friendly competition, where you learn to challenge yourself. You can compare your work with others in the class and see how far ahead you are than someone else or how much more effort you need to reach their level.

Soft Skills

You will be discussing, expressing, promoting, competing, organizing, advising, and coordinating throughout the course duration. There are a lot of opportunities to learn soft skills and it is very important successful in business.

At SMS, we also have a Behaviour Dynamics Lab and hold several workshops regularly, where we help MBA students to learn to negotiate, handle job interviews, give presentations, build relationships and so much more.

Networking

This is the most commonly spoken-about reason for doing a MBA. It is true as well. Creating a network is a very important aspect of sustaining a business. If your MBA class is 400-strong – you may not be able to know all of them over the tenure of your MBA. But you will know a large number of them. And even those whom you do not get to know will (possibly) respond and help you out in the future.

Then, there are alumni networks, guest lecturers, and a lot of other people who become part of your professional network during the course.

People who have some work experience will agree that getting a job is not only about clearing an exam or getting XYZ marks in an entry test. As you progress along your career, new job opportunities will emerge for you from the existing network, referral etc.

Money – Brighter than Sunshine, Sweeter than Honey

People grow in age and family, happiness, doing good etc. may become more important with time. But nothing brings a spark in a young 20-something working guy than telling him/her that a MBA will double his existing salary (the increment is overrated, but there is an increment).

The Broad View

Many people work in one segmented job in a specific industry for years. As a result, they end up having a narrow view of a small pie of the business world they live in. A MBA broadens their views of things.

They learn about new tools and techniques, how things have changed over the years, and learn to gauge what things are going to look like in the future. And it may feel like magic!

Skill Development

In the Master of Business Administration program, you learn the standard and latest frameworks used by businesses – say in analytics or corporate valuation or supply chain etc.

Developing new skills is essential if you want to stay ahead in the race. In an MBA, you get to directly apply the new skill and develop it further on different projects. Learning by doing is always preferred over reading materials or watching videos about how to do something or learn something.

An MBA is a great investment if you can get the above aspects from it. But it all depends on what kind of value one expects to receive out of it. An MBA should not only help you in getting a better job but also help you grow as an individual and become more knowledgeable about industries and markets..